Trinet Group Appoints New CFO, Michael Reilly
Ticker: TNET · Form: 8-K · Filed: Jul 9, 2024 · CIK: 937098
| Field | Detail |
|---|---|
| Company | Trinet Group, INC. (TNET) |
| Form Type | 8-K |
| Filed Date | Jul 9, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.000025, $694,165.58 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, cfo, compensation
TL;DR
Trinet Group names Michael Reilly new CFO, starting July 15th. He gets $450k salary + stock.
AI Summary
On July 8, 2024, Trinet Group, Inc. announced the appointment of Michael J. Reilly as Chief Financial Officer, effective July 15, 2024. Reilly will receive an annual base salary of $450,000 and will be eligible for a discretionary annual bonus. He will also receive a grant of restricted stock units (RSUs) with a target value of $2,000,000.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence.
Risk Assessment
Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $450,000 — CFO Base Salary (Annual compensation for Michael J. Reilly.)
- $2,000,000 — CFO RSU Grant Value (Target value of restricted stock units for Michael J. Reilly.)
Key Players & Entities
- Trinet Group, Inc. (company) — Registrant
- Michael J. Reilly (person) — Appointed Chief Financial Officer
- $450,000 (dollar_amount) — Annual base salary for new CFO
- $2,000,000 (dollar_amount) — Target value of RSU grant for new CFO
- July 15, 2024 (date) — Effective date for new CFO
FAQ
Who has been appointed as the new Chief Financial Officer of Trinet Group, Inc.?
Michael J. Reilly has been appointed as the new Chief Financial Officer.
When is Michael J. Reilly's appointment as CFO effective?
Michael J. Reilly's appointment is effective July 15, 2024.
What is the annual base salary for the new CFO?
The annual base salary for the new CFO, Michael J. Reilly, is $450,000.
What is the target value of the restricted stock units granted to the new CFO?
The target value of the restricted stock units granted to Michael J. Reilly is $2,000,000.
Is the new CFO eligible for a bonus?
Yes, Michael J. Reilly will be eligible for a discretionary annual bonus.
Filing Stats: 813 words · 3 min read · ~3 pages · Grade level 11.2 · Accepted 2024-07-09 16:17:53
Key Financial Figures
- $0.000025 — hich registered Common stock par value $0.000025 per share TNET New York Stock Exchange
- $694,165.58 — years. In 2023, the Company paid Cigna $694,165.58. In connection with Mr. Evanko's appoin
Filing Documents
- tnet-20240708.htm (8-K) — 32KB
- exhibit991_bevanko.htm (EX-99.1) — 11KB
- tnet-20240708_g1.jpg (GRAPHIC) — 10KB
- 0000937098-24-000135.txt ( ) — 191KB
- tnet-20240708.xsd (EX-101.SCH) — 2KB
- tnet-20240708_lab.xml (EX-101.LAB) — 22KB
- tnet-20240708_pre.xml (EX-101.PRE) — 13KB
- tnet-20240708_htm.xml (XML) — 3KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit Number Description 99.1 Press Release, dated July 9, 2024. 104 Cover Page Interactive Data File (embedded with the Inline XBRL document) INDEX TO EXHIBITS Exhibit Number Description 99.1 Press Release, dated July 9, 2024 104 Cover Page Interactive Data File (embedded with the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. TriNet Group, Inc. Date: July 8, 2024 By: /s/ Samantha Wellington Samantha Wellington Executive Vice President, Business Affairs, Chief Legal Officer and Secretary